Economics

A budget reveals the spending plan for the fiscal year, as well as the government's financial priorities and goals.

it increases the tax as income rises

Constantly increasing

Producers driven by the profit motive seek to reduce their competition.

Government censorship

Higher costs for production, leading to higher consumer prices.

The president gives a proposed budget to Congress.

Congress decides on the details of the budget.

The president signs spending bills into law.

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The Office of Management and Budget (OMB) and the president prepare a proposed budget.

Congress decides on the overall level of spending and taxation and passes specific spending bills.

The president signs various spending bills into law.

a group of producers working together to raise prices and profits

Politicians might use pork barrel spending to win support from their constituents.

The public goods the government provides suffer from a free-rider problem.

Tariffs and embargos are trade restrictions.

Producers are driven by the profit motive to work against competition

The government limits freedom of speech when they use censorship.

exchange currency

By providing product information

price fixing

A restriction on when a union may call a strike

cutting taxes

A. Social security _ government agency

B. U.S. Postal Service _ government corporation

C. Boeing _ government contractor

By selling stocks

Merit good : education

Public good : national security

Individual good : food

Issue bonds

Organization of Petroleum Exporting Countries competition regulator

Lockheed Martin Corporation government contractor

Antitrust Division of the Department of Justice cartel